BioClinica Shareholders Can't Stop $123M PE Takeover Bid

Law360, Wilmington (February 26, 2013, 12:05 AM EST) -- A Delaware state judge on Monday stymied an attempt by BioClinica Inc. shareholders to prevent its planned $123 million private equity takeover from being consummated in March, denying a request to fast-track matters in their putative class action.

BioClinica's board announced Jan. 29 that it had accepted a $7.25-per-share buyout offer from PE firm JLL Partners Inc., and investors brought multiple suits in Delaware Chancery Court seeking to hold up the transaction, which the parties expect to conclude March 11.